CAVA Group (NYSE:CAVA) Trading Down 4.7% - Time to Sell?

Key Points

• CAVA Group's stock price fell by 4.7%, trading at $59.67 after reaching a low of $59.83, with a trading volume of 2,222,922 shares, significantly below its average.
• Multiple analysts have lowered their price targets for CAVA Group, with KeyCorp's target now at $85.00 and JPMorgan Chase's at $95.00, reflecting a cautious outlook on the stock.
• The company recently reported earnings of $0.16 per share, exceeding expectations but with revenue of $280.62 million falling short of the forecast, indicating challenges in meeting market demands.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report)'s share price traded down 4.7% during trading on Monday . The company traded as low as $59.83 and last traded at $59.67. 2,222,922 shares traded hands during trading, a decline of 42% from the average session volume of 3,838,545 shares. The stock had previously closed at $62.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. KeyCorp reduced their price target on CAVA Group from $100.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. UBS Group dropped their price target on CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Argus set a $76.00 price target on CAVA Group in a research note on Tuesday, September 2nd. Finally, TD Cowen dropped their price target on CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.41.

CAVA Group Price Performance

The stock has a market capitalization of $6.79 billion, a PE ratio of 49.23, a P/E/G ratio of 3.13 and a beta of 2.62. The stock has a 50 day moving average of $73.25 and a two-hundred day moving average of $81.14.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The firm had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. During the same period in the previous year, the business earned $0.17 earnings per share. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Quadcap Wealth Management LLC raised its holdings in shares of CAVA Group by 1.4% in the second quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company's stock worth $755,000 after acquiring an additional 124 shares during the last quarter. McDonough Capital Management Inc raised its holdings in shares of CAVA Group by 4.7% in the second quarter. McDonough Capital Management Inc now owns 2,910 shares of the company's stock worth $245,000 after acquiring an additional 131 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock worth $46,000 after acquiring an additional 144 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of CAVA Group by 1.9% in the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock worth $713,000 after acquiring an additional 150 shares during the last quarter. Finally, Tsfg LLC raised its holdings in shares of CAVA Group by 19.1% in the second quarter. Tsfg LLC now owns 937 shares of the company's stock worth $79,000 after acquiring an additional 150 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.